Now you can own that home you’ve always wanted. Take advantage of the $8,000 tax credit from the government offered to first time homeowners, and those who haven’t owned a home in the past three (3) years. This is unlike any tax credit that we've seen in our lifetime!
Close on a home between now and December 1st, and you can receive up to $8,000 in a refundable tax credit!
If you owe taxes, a credit will be applied. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
This credit can be claimed on your 2008 or 2009 taxes.
Homeowners may deduct mortgage interest and property taxes as an expense against income.
You may claim a deduction for certain home expenses if you use a part of your home for business.
Nationally 8 out of 10 economists believe home prices will rise in the next 5 years. (Keller Center for Research at Baylor University, 2008) There's a great local inventory of homes on the market right now - all priced to sell! And the Albany Board of Realtors would like to report that Albany area homes have maintained within a 4% sell price during the past 3 years.
With interest rates at a 40 year low, now is the perfect time to buy!
What if I purchase later this year but can't get to settlement before December 1? What if I die or get divorced or my property is ruined in a natural disaster within the 3 years? I have a home under construction. Am I eligible for the credit? Answers to these "real world" situations and more...More >>